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Lilly diabetes setbacks may spur shopping for Amylin

October 26, 2010

Eli Lilly and Co., under pressure to gain new products after setbacks this month with two diabetes drugs, may try to acquire its partner Amylin Pharmaceuticals Inc.

NCAA tackles agents issue, looks to new sanctions

October 26, 2010

Several groups are working with the NCAA to find new ways to enforce rules prohibiting improper agent-related benefits for student-athletes, including possible post-NCAA financial penalties that reach into a player’s potential NFL career.

Leasing/leasing contracts

October 26, 2010

-Stanley Black & Decker Inc. leased 219,968 square feet of industrial space at 501 W. New Road, Greenfield, where it will consolidate plants that operate in Shelbyville and Connecticut. The tenant was represented by Tom Cooler of CB Richard Ellis Indianapolis and Mike McLaughlin of CB Richard Ellis Chicago. The landlord, Cabot II-IN1B02 LLC, was represented by Mark Writt of CB Richard Ellis.

-Citi Trends Inc. leased 13,310 square feet at Twin Aire Plaza, 674 Twin Aire Drive. The tenant was represented by Larry Davis and Tom English of Sitehawk Retail Real Estate. The landlord, MER-CAR Corp., represented itself.

-Family Christian Stores leased 5,000 square feet at Southtown Centre, South Scatterfield Road, Anderson. The tenant was represented by Scott Gray of Sitehawk Retail Real Estate. The landlord, Charles Street Associates LLC, was represented by Paul Nicholson of Central Management.

-Shoe Trend leased 4,420 square feet at Eagledale Plaza, 2802 N. Lafayette Road. The landlord, Sandor Development Co., was represented by Sandor’s Jamison Downs and John Holloway. The tenant represented itself.

-Tratek leased 4,000 square feet at 15335 Endeavor Drive, Noblesville. The tenant was represented by David Ponader and Sam Smith of Colliers International. The landlord, Bullock & Co., was represented by John Hanley of CB Richard Ellis.

-Company Wrench Limited LLC leased a 3,600-square-foot industrial building at 7019 Brookville Road. The tenant was represented by Cameron Kucic of Summit Realty Group. The landlord, Coraz Realty Inc., was represented by Bill Brennan of Lee & Associates.

-Wound Vision LLC leased 3,100 square feet of office space in Fletcher Place Lofts, 410 S. College Ave. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, Von Deylen Family LLC, was represented by Sandra Jarvis of IndySQUARED.

-Personal Finance Co. leased 2,500 square feet at Hobby Lobby Plaza, 1804 S. Scatterfield Road, Anderson. The landlord, Sandor Development Co., was represented by Sandor’s Jamison Downs and John Holloway. The tenant represented itself.

-Lewis and Wilkins LLP leased 2,033 square feet of office space in Fletcher Place Terrace, 427 S. College Ave. The tenant was represented by Bryan Augustin of NAI Olympia Partners. The landlord, Deylen Realty Inc., was represented by Sandra Jarvis of IndySQUARED.

-Taylor’s Appraisal Service Inc. leased 1,200 square feet of office space in The Vantage Centre, 720 Executive Park Drive, Greenwood. The tenant was represented by Bruce Richardson of Royal Cos. The landlord, Act III Investments, was represented by Cathy Richards of Lee & Associates.

Sales/acquisitions

October 26, 2010

-Masterpiece Classic Cars LLC bought 27,586 square feet of industrial space at 675 South U.S. 31, Whiteland. The price wasn’t disclosed. The seller, Forty One Corp., an affiliate of Huntington Bank, was represented by Greg Folz and Michael Weishaar of Cassidy Turley. The buyer represented itself.

-Wexford on the Park LP bought former Indianapolis Public School No. 30 at 38 Miley Ave., near West Washington Street and North Belmont Avenue. The price wasn’t disclosed. The buyer was represented by Gary Merritt. The seller, RealtyLink Inc., was represented by Sandra Jarvis of IndySQUARED.

Housing

October 26, 2010

On a seasonally adjusted basis, the pace of mortgage loan activity fell 10.5 percent for the week ended Oct. 15, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 4.34 percent from 4.21 percent the previous week. The rate for 15-year mortgages grew to 3.74 percent from 3.62 percent.

Greenfield apartment market heats up with sales, development activity

October 25, 2010

The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.

Grand jury indicts OmniSource for racketeering

October 25, 2010

A Marion County grand jury has returned an eight-count indictment against OmniSource Corp., accusing the metal recycling powerhouse of racketeering and receiving stolen property. Company president Mark Millett called the allegations "unfounded."

WellPoint dismisses highly paid subsidiary CEO

October 25, 2010

Last year, Dijuana Lewis earned a $650,000 salary as one of the insurer’s highest paid executives and received a $200,000 bonus in part for helping to lead the sale of the NextRx subsidiary to Express Scripts Inc. for about $4.68 billion.

Recovery from Schrenker likely to be only 7 percent

October 25, 2010

A report by the receiver appointed to document Marcus Schrenker’s assets says he just doesn’t have enough money to repay investors more than that.

NBA’s plan to cut salaries is double-edged sword for Pacers

October 25, 2010

If NBA Commissioner David Stern makes good on his promise to cut player salaries, Larry Bird's plan to rebuild team could take a big hit.

Defunct ATA Airlines awarded $66M in FedEx lawsuit

October 25, 2010

An Indianapolis jury has returned a $65.9 million verdict against Memphis-based FedEx in a breach-of-contract lawsuit brought in 2008 by now-defunct ATA Airlines.

Bar workers find man dead in car

October 25, 2010

The body of a 35-year-old man from Louisiana was discovered Sunday afternoon in his car in the 5700 block of East 71st Street. Officials identified the deceased man Monday morning as Chad Knox.  Employees of GG’s Bar spotted Knox’s vehicle when they arrived Sunday. They remembered seeing Knox as a customer the night before and notified authorities. Police are releasing few details about the death investigation. It's not known why Knox was in Indiana or how he died. His body was turned over the Marion County coroner's office to investigate.

Danville officer arrested after altercation

October 25, 2010

Danville Assistant Police Chief Jerry Cunningham was arrested Sunday for residential entry, domestic battery and battery with injury. According to reports, Cunningham and his wife are in the process of separating. He is accused of confronting an acquaintance of his wife’s at the man's home, then illegally entering the home and getting into a fight with him, injuring him in the process. Cunningham's wife also became involved in the altercation and was injured. The Hendricks County Sheriff’s Department is in charge of the investigation.

Friends: Freshman bullied before his death

October 25, 2010

Hamilton Southeastern High School students and staff returned to class Monday without one of their own. Friends say 14-year-old freshman Jamarcus Bell took his own life because he was being bullied at school. Bell was found dead Oct. 20 at his parents’ home in Fishers. On Sunday, friends gathered at a nearby park to sign a remembrance card. Two close friends said Bell was private about his feelings and focused much of his energy on making others happy. School officials declined to comment on the bullying allegation, releasing a statement offering condolences to Bell’s family. “Events like these cause all of us to wonder what might have led to this tragedy,” the statement read. “As we learn more about the situation, we will be prepared to examine any circumstances that warrant our review.” A funeral service is scheduled for  Monday night at Eastern Star Church in Fishers.

GOP could gain quorum in state Senate election

October 25, 2010

Indiana Senate Democrats, long considered the last bastion of liberal thought in state government, are in danger of becoming politically irrelevant after the Nov. 2 election—something they say would disenfranchise nearly 2 million Hoosiers who live in their districts.

Purdue developing oil spill website

October 25, 2010

Purdue University is developing a website with more than 30,000 hours of underwater video from the BP oil spill. More than 400 videos shot by 14 remotely operated underwater vehicles are on the site so far.

Some council members still unsure about CIB budget

October 25, 2010

The Capital Improvement Board’s controversial spending plan will face its final trial Monday night as the City-County Council takes up the city’s $1.1 billion budget for next year.

Local Raytheon operation lands $47M Army contract

October 25, 2010

Raytheon Technical Services Co. in Indianapolis won a $47 million deal to make infrared systems for U.S. Army armored vehicles, continuing a string of sizable military contracts it has scored this year.

N.Y. attorney general sues FedEx over driver status

October 25, 2010

The Memphis, Tenn.-based company, which has a distribution hub in Indianapolis, says its contract-driver model is legal and was approved for tax purposes by the U.S. Internal Revenue Service in 1994.

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